Cash trade, demand expectations support hog futures

Chicago Mercantile Exchange live cattle were mixed ahead of the week’s direct business, while feeders were sharply lower on the higher move in corn. December live was down $.30 at $151.27 and February was up $.50 at $153.05. January feeders were $2.42 lower at $177.02 and March was down $1.97 at $179.80.

Direct cash cattle markets were generally very quiet. Asking prices are $151 to $152 on the live basis in the south with a handful of bids at $238 dressed in the north and widespread business not expected to start until Wednesday or Thursday.

…

Cash trade, demand expectations support hog futures